By Olisemeka Obeche
President Muhammadu Buhari has assured investors that his administration will implement far-reaching reforms that would boost accountability and transparency in the oil and gas industry.
The President made the pledge during a meeting with senior officials of Chevron led by its President for Africa and Latin America, Mr Ali Moshiri in Abuja on Monday.
According to a press statement released by Senior Special Assistant to the President on Media and Publicity, Garba Shehu, Buhari declared that his administration was ready to effectively address the myriad of challenges in the sector. “We understand the situations in the industry (Oil & Gas) and we will do our best to address them. We shall address the challenges affecting exploration, production and distribution of oil products in the country,” the president told the delegation.
Acknowledging the merits of the Amnesty Programme initiated by President Umar Yar’Adua to reduce violence in the Niger Delta region, President Buhari said that his administration would build on good aspects of the programme. He assured that the APC government will implement policy measures that would “enhance security in the Niger Delta and optimize investments in Nigeria’s oil and gas industry”.
Chevron President had earlier urged President Buhari to restore the confidence of international investors in the industry, identifying improved security in the Niger Delta as key to increased investment in the oil and gas sector in Nigeria.
Moshiri also said that Chevron, which has 36.7 per cent interest in the West African Gas Pipeline Company Limited, was keen to support Nigeria’s gas sector and bring more electricity to Nigerian consumers.